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1
STATEMENT FOR THE PRESS
St. 4361
Federal Rese:r.ve Board,
December 18, 1924.
Relea.ed fo~ publication
Friday morn.L"1g, Dec. 19;
not ea.~l ier.
1
CONDITION OF E'EDERAL PESERVE BANKS
The consolidated statement of can~ition of the F~e:ral Reserve banks on Dec~
be:r 17, made public by the Feoe:ral Reserve Board, showsan increase of $29,600,000
in holoings of discounted bills a.nd of $12,300,000 in Government securities, togethe:t
with a decline of $16,000,000 in accepta.ncea p~cbased in open market. Total ea:r~
ing nsscts went up $25,800,000 ano Feoeral :reserve note circulation $17,800,000,
while total deposits want o.own $3,000,000, ca1h reserves $44,100,000, and non-:rese:rve cash $1,200,000.
All Fet'le:ral reserve banks :report larger hcloings of discounted billa, with the
exception of Atlanta which shows a d.ecline of $4,100,000, and Bcston and Minneapclia
which :report a total decline of $1,1QO,OOO. The principal increases in discount
holdings al'e as fellows: Chicago $11,900,000, Cleveland $8,100,000, Richmond
$7,400,000, New Ycrk $4,200,000. Holdir..gs of paper securt.cLby u. s. Government ob' ligations increased by $31,100,000 to $158,400,000.
A decrease of $17,400, JOO in hola.ings of acceptances purchased in open market
' is reported by the New York reserve barik. The Cleveland bank ahc~ an increase of
$1,900,000 in acceptance,,holdings and Boston- an increase of $1,100,000, while the
remaining banks report relatively small changes in this item for the week. The
System's hcldings of Treasu:cy notes declined $19,600,000, while holdings of U. s.
bends increased $18,200,000 and of Treasury certificates $13,700,000. Holdings of
Treasury ca:rtificates on December 17 inclu:led a certificate for $40,000,000 issued
by the Government to the Fe0aral Reserve Bank of Naw York pending the collection
of income tax: f"'eei:it:e .• · •
The Cleveland bank shows a decline of $3,400,000 in ita Fe~e:ral :reserve note
circulation and. the Chicago, Min:1eapolis and Dallas banks show a. total decline of
$900,000. The principal increases sho'Nn by the :remaining banka a:re as follows:
Now York $6,900,000, San Francisco $3,600,000, Boston $3,400,000, Philadelphia
$3,100,000, Richmond $2,900,000.
A SL!IIllll<.'l:ry of changes in the principal assets and. liabili tios of the reserve
banks during the week and the yea:r ending December 17, 1924, folloW!:
Increase or decrease
Year
Week
Total :reserves •
Gold :rece:rves
. . . ..
. ..
*
•
•
•
•
•
•
•
Total earning assets
• • • • •
Bills discuunteo, total • • •
• ••.
Secured by U~ s. Go~:e:rnment obligations
Other bills discounted • • • •
Bills bought in open market
u. s.
Bonc1.s • •
~
• • • • • • • • • • • • • •
notes • • . • • • . • . •
Certificates of inclebtedness • • • .
TrP.w=~ury
gede:ral Reserve notes in circulation
....
':.'otal deposits • • • . • • • • • • . .
1\lemba:rs! :reserve c.leposi ts
. . .•
Government cleposi ts • • • • •
• • •
Other o.apos its • • • • • • . • • •
,,
Digitized\·'•
for FRASER
- $44,100,000 - $ 114,900,000
137,000,000
- 43,400,000 -
1,500,000 -
39,000,000
466,4o0,000
227 '000' 000
239,400,000
16,000,000 +
14,400,000
+ 25,S00,000 +
+ 29,600,000 + 31,100,000 -
• • • • • • •
Government securities, total • • • •
d~ing
+
+
12,300,000
18,200,000
19,6J0,000
+ 13,"(00,000
+
+
+
+
482,900,000
46,100,000
287 ,ooo, 000
149,800,000
+ 17,800,000
3,000,000
+ 2Z,4o0,000
27,40J,OOO
+
2,000,000
-
425,000,000
+
+
373,500,000
365,200,000
2,800,000
11,100,000
+
~
~~"""-
-~~~~~~~~~--......--------
R~..f..o~·-publication Frlclay morning, December 19, 1924.
RESOURCES AID LLU!LIT IES
OF TI!E TWELVE ~·
RftiRVE BANKS COMBIBED
(In thousands of doliara)
Dec. 17, 1924 Dec. 10, 1924 Dec. 19,1923
RESOURCES
1,822,424
47,048 .
Gold with Federal •eser.ve agents • • •
Gold redemption fund with U.S.Treaaur.y
Gold held exclusively against F.R.notes
Gold settlement fund with F.R. Board
Golt ani gold certificates held by banks
.
Total gold resar.ves •
Reserves other than gold • • • •
Total reserves
.
• •
. .. .
Non-reserve cash . • • • • . • • • • • •
Bills discounted:
Sec. by U.S.Gover.nment obligations ••
Other bills discounted • • • • . • • •
Total bills dis counted- • • • • • • •
Billa bought in open market • • •
U. S. Gove:r.nment secUT."itiea:
:Qond a • • • • • . • . • • ; • • • • • •
T'reasucy notes • • • . • • •
Certificate• of indebtedness ••
Total U.
s.
Government securities
Foreign loans on gold • • • • •
All other earning asset1 • • •
Total earning assets
1,869,472
1,836, 288
32,093
1,868,381
2,140,445
61,095
2, 201,54o
589,390
495,256
647,643
481,474
541,011
348,584
2,954,118
94,467
3,048,585
4o,41S
2,997,498
95.218
3,092, 716
41,643
158,413
125,398
127.279
126,977
385,425
. 364,771
283,811
750,196
336,827
254,256
352,838
64,578
341,485
158,099
. 46,358
;61,082
144,456
564,162
2,050
551,896
6,000
2,050
18,464
54,493
8,292
S;l, 249
1,192,850
1,167,o4o
1,153,S75
I
. . . .•
• •
• •
5% Red.emption fund - F. R. Bank notes
Uncollected itema • • •
Bank premises • • • • •
All other resources • •
6),000
3,091,135
72,303
3,163,438 .
64,548
322,379
r-
51
2!
.. .. .. ... ... ...
.. ..
831,419
61,768
23,458
649,131
61,741
26,239
734,270
56,951
15,515
5,198,498
5,038,510
5,188,625
.F. R. notes in actual circulation • • •
1,871,453
1,853,614
·F. R. Baiut no tea in circulation - net
Deposits:
Member bank - reserve account • • • •
Government • • • • • • •
• . •
Other deposit a • • . • • • • • • • •
2,296,436
477
2,214, 744
8,542
33,022
2,192,333
35,975
31,002
1,849,596
11,334
21,922
Total· deposita • • •
2,256,308
1,882,852
654,456
110,156
218,369
25,879
5,1SS,625
...
TOTAL RESOURCES
L I AB I L I T I E S
....
. .. . .
.. .
723,943
112,036
220,915
13,843
2,259.310
578,685
112,123
220,915
13,863
TOTAL LIABILITIES • • •
5,196, 498
5,03S,510
. ..
Deferred availability items •
Ca~ital p&id in • • •
Surplus ·• • • • . • • • • • •
All other liabilities • • • • • •
Ratio of total reserves te deposit and
.F. R. note liabilities combined • • • •
Contingent liability on bills purchased
fer fo:reign ccrreepono enta • • • • • ·•
c.
75·7~
42,725
37,Z37
17,886
n~..Lt;a.f:H::ou
u).r.
puu..L ... ~.;a.-~.ior~ .Fri{!ay morning, December
19, 1924;
not earlier.
St. 4)6lb
RESOURCES .AND LIABILITIES OF THE FEDERAL RESERVE BANRB AT CLOSE OF BUSINESS, DECEMBER
17, 1924.
RE S 0 URCE S
(In thousands of c1 ollars)
Fe0.eral Rese:rve Bank of
Boston New Yor"k
Gold with Federal Reser"ve Agents
170,096 444,442
Gold r"edemption fund with U.S.Treas. 8,783
9,172
Gold held exclusivel~ against
F. R. notes
178,879
Gold settlement fund with F.R.Board 40,357
Gold and- gold. certif. held by.- banks 18,890
Total gold reserves
238,126
Reser"Ves other" than gold
9,902
Total reser"'les
248,028
Non-rase:r."Ve oaah
3,450
Bills discounted!
Secur.ed by U.S.Govt. obligations
Other. billa discounted
Total bills Cl iscounted
Bills bought in open market
U. s. Gover.nment secu~ities:
Bends
Tr.easur.y notes
Certificates of indebtednes•
Total UoS. Govt. securities
11,182
6,098
17' 280
56,888
1,755
22,180
10,421
34,356
For.eign loan• an gold
All other. ear.ning assets
108,524
72, 443
4,312
204
Total ea"l'!ling assets
Uncollect~items
Bank pr.emiaee
All other r.eeources
c•.
-----
---~
Cleve.
Rich. Atlanta Chicago St.Louis Mim. Kans.Cy. DaB.as San F:r.an.
169,269
33,513
25,264
228,046
5,147
233,193
1,112
189,628
44,553
21,309
255,490
6,851
262,341
2, 691
83,067
23,956
18,886
125,909
3, 659
129,568
1,788
142,458
14,170
8,205
164,833
8,290
173,123
2,984
194,990
84, 16S
86,273
365,431
11 ,165
376,596
5,893
~-
--
-
----~
58,774
23,494
9,183
91,451
121231
103,632
2,488
41,599 25,927 34,562 11,050 1,497 21,942 5,253
11,443 9,099 16,693 19,314 16,647 20,545 7, 230
53,042 35,026 51,255 30,364 13,144 42,487 12,433
93,449 19,454 34,374 . 1, 079 8,390 28,333 15,650
8,625 1,066 10,103 1, 265 1,594
117,0g) 23,979 33,426 2,424 1,341
880
78,011 4,495 15,347
823
203,656 29,540 58,876 4,518 3,815
1, 746
264
702
582
342
1,550
351,893 86,152 145, 207 36,303 30,613
205,440 78,614 71, Sll 68,054 39,113
17,448 1,114 9,123 2,528 2,875
182
7,985
389 2,277
335
-
Total
-
73,416
23,351
5,664
102,431
1,533
103,964
536
66,838
36,289
3,338
106,465
3,226
109,691
1,955
43,210
17,269
s, 774
69,253
8,623
77,876
1,649
215,329 1,869,472
41,355 539,390
27,108 495,256
283,792 2,954,118
3,908
94,467
287,700 3,048,585
2,826
40,418
198 1,079
562 3,562
4,366 4,472 3,656 5,S35
4,564 5,551 4,218 9,397
16 13,797 20,535 44,862
158,413
125,398
283, Sll
336,827
64,578
17,376
930 8,625 8,394 2, 700 2,145
45, 80S 10,996 12,933 17,921 16,717 36, 7L~O 341 ,1~85
14,716 2:746 3,955 6,427 5,304 14,968 158,099
77,900 14,672 25,513 32,742 24,721 53,853 564,162
6,000
894
228
456
294
216
276
500
2,050
149,614 43, CB9 30,309 52,866 49,702 10S,568 1,192,850
106,405 43,194 18,706 47,751 34,869 45,019 831,419
8,264 3,158 3,176 4,597 1,912 3,255
61, 768
1, 218
807 l,S'92 4,Hs6
23,458
333 3, 650
436,961 1,538,635 4o0)367 491,514 238,630 250,985 647,990
TOTAL RESOURCES
453,614
206,915
262,362
922,891
19,932
942,823
13,046
Phila,
163,751 186,409 81,193 139,875 190,949 55,983 72,354 62,741 41,535 213,096 1,822,424
5,518 3,219 1,874 2,583 4,041 2,791 1,062 4,097 1,675 2,233
47,048
195~954
160,341 2.17. 667 167, goo
lJ.SJ J
55l.i- 5, 198,498
Released for publication F:r.id.ay
mo~g,
December 19, 1924; not earlier.
St. 4-361c
RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE B.ANKS AT CLOSE OF BUSINESS, DECEMBER 17, 1924.
L I AB I L I T I E S
(In thousands of dollars)
Federal R&eer.ve Bank of
F. R. notes in actual circulation
Deposits:
Member bank - re.serve account
Gove:r.nment
Other deposita
~otal
depos i h
Deferred. availability i te:ms
Capital paid in
Surplus
All other liabilities
TO'J.'.tl. LIABILITIES
REttio of total :r.ese:r.ve-s to depoait
and F. :a. note liabilities
combined, per cent
Boston New York Phila.
Cleve.
Rich.
Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San F:r.an. Total
207,493
376,250173,774 206,630 89,597 142,994198,526 57,728 72,142 73,185 56,682 216,4521,871,453
133,847
911
129
134,887
69,688
7,980
16,390
523
887,124 126,048 183,206 64,518 62,4 38 309 t 164 80,437 59,599 87,108 61,417 159,838 2,214,744
820
223
8,542
765
307
472 1,330
970
825
872
754
233
470 1, 256
21,570
142 1, 349
187
671 1,118
588 4,913
629
33,022
903' 459
160,147
30,146
59,929
2,704
72.4
73.3
184,769 65,675 63,052 311,843 81,891 60,563 89,~8 62,825 165,505 2,256,308
62,331 64,890 30,045 90,153 40,670 15,462 40,910 35,863 44,907 723,943
12,757 5,900 4, 573 15,184 5,131 3, 269 4,341 4,130 8,107 112,036
23,691 11,672 8,950 30,426 10,072 7,4S4 9,496 7,577 15,301 220,915
462 1,421
1,336
896 1,371 1,358
13,843
823 1, 282
637
436,961 1,538,635 400,367 491,514 238,630 250,985 647,990 195,954 160,341 217,667 167,900 451,554 5,198,498
Contingent 1 ia.bili ty en bills
purchased for f o:r.eign
cor:r.eaponclents
126,741
68,877
10,518
19,927
530
84.0
12,711
4,106
4,953
2,413
1,863
75·3
6,308
2,074
1,524
1,947
1,609
73-9
3,217
42,725
FEDERAL RESERVE NOTES OUTST.ANDIID AND IN ACTUAL CI RJULATION
E. R. notaa outstanding
234,833
524,509 210,778 227,951 98,807158,844 217,566 64,843 75,261 79,805 63,592 259,940 2,216,729
27,340
148,259 37,004 21,321 9,210 15,850 19,040 7,115 3,119 6,620 6,910 43,488 345,276
~~---~~~~~~----=---~~---~~~---~----~~--~~--~----~~--~~--~~~
F. R. notes in actual c.1ro1)la.tion 207,493
376,250173,774 206,6.}0 89,597 142,994198,526 57,728 72,142 73,185 56,682 216,4521,871,453
.F. R. notes held by banka
DISTRIBUTION OF BILLS AND U. S. CERTIFICATES OF INDEBTEDNESS BY MATURITIES
Within 15 days
Bills discounted
Billa boughtt in open market
Certifice.tse of inclebtedness
16 to 30 days
31 to 6o d~s
61 to 90 days
From 91 days
to 6 months
Over 6 months
27,796
59,338
26,816
105,192
18,159
78,504
24,067
9,626
11,800
3,022
663
200,751
81,993
40,000
c.
91,010
Total
283,811
336,827
158,039
•
--
~
~---
---
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Released fpr publication F:r.io.ay morning, December 19, 1924; not earlier.
FEDERAL
RESERVE AGENTS' ACCOUNTS AT CLOSE
OF
st. 436lo
BUSINESS, DECEMBER 17, 1924.
(In thousands of dollars)
Federal Reserve .Agent at
RESOURCES
· . Feoeral Reserve notes an hand
Federal Reserve notes outstanding
Conatera.l security for Federal
Reser:e r.otes outstanding:
Gold and golcl. certificates
Gold reclempt ian fun:l
Gclcl fund - F. R. Board
Eligible paper .Amount required
Excess amount held
Boston
New York Phila.
50,750
234,833
345,660 42,000 49,470 23,944 65,770 248,120 25,200 14,714 26,453 16,632 64,500 973,213
524,509 210,778 227,951 98,807158,844 217,566 64,843 75,261 79,805 63,592 259,940 2,216.729
35,300
16,796
11g,ooo
188,531 6,400 8,780
3,500
8,785 13,052
14,556
278,904
802 4,381 3,479 17,079 118~314
29,911 14,962 12,629 3,398 5,375 5,304 4,198
226,ooo 142,389 165,ooo 77,795 131,000 185,645 43,000 55,500 58,360 23,500 196,017 1,425,206
64,737
9,431
Cleve.
Rich•. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran.
80,067 47,027 41,542 17,614· 18,969 26,617 8,860
33,353 3,069 42,106 11,382 7,425 44,024 19,259
2,907
785
17,C54 22,057 46,844
2,237
2,480 7,237
Total
394,305
182,788
529,847 1,428,031 466,625 547,478 232~940 390,883 727,276 174,145 166,021 188,300 146,296 591,617 5,589,459
L I AB I L I T I E S
:ret ·!:tr:.o~.'lrt": ~f .~ecleral ·Reserve notes
:r.·dceived :from Comptroller
pf the Currency
285,583
Collateral :r:eceivect' :from
.F'ad eral reserve bank:
Gold
Eligible paper
TO'l'.AL
870,169 252,778 277,421 122,751 224,614 465,686 90,043 89,975 106,258 80,224
3,189,942
170,096 444,442163,751186,409 81,193 139,875l90,949 55,983 72,354 62,741 41,535 213,0961,822,424
74,168 113,420 50,096 83,64s 28,996 26,394 70,641 28,119 3,692 19t301 24,537 54,0Sl 577,093
529,847 1,.428,031 466,625 547,478 232,940 390,883 727,276 174,1l~5 166,021 1~8,300 146,296 591,617 5;:,5'89,459
c.
3~,440
~-~
~~~---~
-~~---
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@FedFRASER